https://www.taxtmi.com/circulars?id=53918 AD Category-I banks may enter standing arrangements with OPGSPs to process import and export payments subject to due diligence, separate Export and Import Collection accounts, appropriate purpose codes, reporting to the Reserve Bank, quarterly reconciliation and audit, and adherence by foreign OPGSPs to liaison office approval, IT law compliance, dispute resolution, refund reserves and seller onboarding procedures. Import and export collections are limited to prescribed transaction values with specified permitted credits and debits; NOSTRO collection accounts must be used for exports and funds swept into Indian export collection accounts and exporter accounts within prescribed timelines. en-us Thu, 24 Sep 2015 00:00:00 +0530 Thu, 24 Sep 2015 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53918 AD Category-I banks may enter standing arrangements with OPGSPs to process import and export payments subject to due diligence, separate Export and Import Collection accounts, appropriate purpose codes, reporting to the Reserve Bank, quarterly reconciliation and audit, and adherence by foreign OPGSPs to liaison office approval, IT law compliance, dispute resolution, refund reserves and seller onboarding procedures. Import and export collections are limited to prescribed transaction values with specified permitted credits and debits; NOSTRO collection accounts must be used for exports and funds swept into Indian export collection accounts and exporter accounts within prescribed timelines. Circulars FEMA Thu, 24 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53918